What is Bio-lubricant?
The biodegradable and environment-friendly lubricant is called bio-lubricant. Lubricants are used to reduce friction between the two surfaces. Vegetable oil or linseed, soybean oil is the source of bio-lubricant. Bio-lubricant provide superior performance than conventional lubricant. It reduces the risk of skin irritation and increases customer satisfaction. Bio-lubricant has a high viscosity index and high flash point. Bio-lubricant is mainly used where it is directly in contact with the environment.
These are key drivers which show the growth of the bio-lubricant Market:
Stringent government regulations on the use of biobased lubricant: Bio-based lubricant has a low impact on the environment. Increasing concern about the environmental government is taking initiative towards the biobased product. To use environment-friendly lubricants North America has taken the initiative, like Vessel General Permit (VGP). This initiative drives the market growth of bio-lubricants.
Increasing demand from the marine industry: In the marine industry, bio-lubricants are used to lubricate the wire and ropes. It reduces friction and protects from corrosion. It is also used in the hydraulic system on ships and offshore platforms. Increasing high demand from the marine industry for bio-lubricants is expected to drive the market growth of bio-lubricants.
Here are some restraining factors that hamper the growth of bio-lubricants:
Bio-lubricants are expensive compared to conventional lubricants: Bio-lubricants are produced from the feedstock. The raw material undergoes various steps to remove the impurities. Bio lubricants are produced on a small scale. Sometimes there is limited availability of raw materials; in addition, bio-lubricants require continuous research to improve their performance. Therefore, considering the above factors, bio-lubricant is expensive and may hamper market growth.
Bio-based lubricants have high growth in upcoming years. It is widely used in the marine and aviation industries. Increasing environmental concerns create the demand for bio-lubricants. Continuous research and development programs help to improve the quality and performance of lubricants.
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